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This section includes InterviewSolutions, each offering curated multiple-choice questions to sharpen your knowledge and support exam preparation. Choose a topic below to get started.
| 501. |
In which account,summary of cashtransactions is prepared in NPOs? |
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Answer» Explanation: The Receipt and PAYMENT Account is the SUMMARY of cash and bank transactionswhich helps in the PREPARATIONOF INCOME and ExpenditureAccount and the BalanceSheet. |
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| 502. |
building rs. 2,40,000(in balance sheet asset side). information building were found overvalued by 20%. revaluation a/c wil be ____with rs. ______ * |
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| 503. |
Write the meaning of commission |
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Answer» Answer: a REQUEST to do a particular piece of work for someone: accept/get/receive a commission When he was 19, he GOT a commission to write an orchestra piece. commission. |
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| 504. |
36. Woodlock Ltd. issued 20,000, 8% Debentures of 7 100 each on 1st April, 2019 redeemable at 20% premium.The debentures were fully subscribed.It has a balance of 1.50,000 in Securities Premium Reserve AccountPass the necessary Journal entries for issue of debentures and writing off loss on issue of debentures. |
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Answer» cjzbznsgsndv,jzfzbshhdhdjdjjdndbxhjfbchhd he jfhfhj he bdhh HAHA hfufjnfg for he hfhfhfhfhghhfh |
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| 505. |
the financial accounting reports follow accounting standards for preparation and presentation of financial statrments . True or false? |
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Answer» YES it is TRUE FINANCIAL ACCOUNTING FOLLOW AS |
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| 506. |
Management accounting reports follow legal guidelines. True or false? |
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Answer» The three guidelines for management ACCOUNTANTS are as follows: Employ a cost-benefit approach. Recognize TECHNICAL and behavioral considerations. Apply the notion of "different costs for different PURPOSES." |
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| 507. |
The frequency and format of management accounting reports are determined by law. True or false? |
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Answer» Answer: TRUE Explanation: Management accounting REPORTS are USUALLY prepared on a WEEKLY or MONTHLY basis by managers or business analysts. Financial accounting reports are filed annually. The annual reports must also be made part of the public record for PUBLICALLY traded companies. |
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| 508. |
I need answer for accountancy 12 chapter. 6 pg no 6. 59. 33, 34 questions? |
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Answer» ok. please post the photo ALSO Explanation: I HOPE this helps helps .Pleasw MARK it as BRAINLIEST also follow me .......... |
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| 509. |
Rent received from business rs. 30000, deposited into his personal account. What is journal entry |
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Answer» Answer: Science is the STUDY of the nature and behavior of natural things and the KNOWLEDGE that we OBTAIN about them. May it be helpful. Mark me as brainlist. Please DROP some thanks. |
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| 510. |
X,y,z are partner in a firm who those profit in theratio of 2:3:5. The firmearned a profit of rupees150000 for the yend ended 31 March 2018, Theprofit by mistake was disturbed among X,Y,Zin the ratio 3:2:1 respectively the errorwas noted only in the beginning of the next yearpass necessary entry to rectify the error |
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Answer» to x's capital a/c 45000 to y's capital a/c. 5000 |
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| 511. |
Look at the question number 18 |
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Answer» you NEED COMPLETE WRITTEN EXPLANATION? |
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| 512. |
How to open a stock trading account? |
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| 513. |
Find out the nature of account from the following heads of account:((i) Building(ii) Capital(ii) Sales(iv) Rent outstanding(v) Interest received(vi) Cash(vii) Bank loan(viii) Panjab University(ix) CBSE Board(x) Salaries(xi) Commission prepaid(xii) Copyright(xiii) Daler Singh(xiv) Loss by theft |
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Answer» INVESTMENT is the answer for your QUESTION DEAR FRIEND |
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| 514. |
Pass journal entry for the following transaction-Shyam, who owed? 15.000 became insolvent and 50% is received from his estatefor bad debts written off last year |
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Answer» Answer: Cash a/c dr. 7500 Bad debts a/c dr. 7500 To shyam's a/c 15000 Explanation: Shyam aapna debtor tha..... use paise lene baki the....lekin koi reasons KE vaje se voo insolvent ho gya......lekin aacha H 50% mil gya....pura bad debt hone se toh aacha h.... thoda mile.....so 50%mila aur 50% ka loss ho gya......toh dekh BHAI...... 50% mila... NA.... matlab kuch toh aara h.....isiliye cash account ko debit kiya.......phir bad debts ko debit isiliye kiya.... kyu ki bad debts nominal account h..... nominal ka RULE kya h??...... dr all expenses isiliye debit aur shyam jo debtor tha..... lekin abb insolvent hoo gya....toh reverse entry......isiliye usko credit kr diya...... |
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| 515. |
Plzzz make accounting equation transaction (a)Commenced Business with cash Rs. 1,00,000 of which he deposited Rs. 60,000 in Bank(b) Bought goods for cash Rs. 30,000 and on credit Rs. 40,000(c) Purchased a machine for Rs. 2,00,000 by raising loan from SBI Bank(d) Sold goods costing Rs. 20,000 @ profit of 20% on cost to Mohan on credit.(e) Took goods costing Rs. 5,000 and cash of Rs. 4,000 for personal use.(f) Paid interest on loan Rs. and instalment of bank loan Rs. 20,000 by cheque.(g) Commission received in advance Rs.8,000(h) Mohan returned the goods worth Rs. 6,000(i) Paid Rs. 20,000 to creditors by cheque(j) Mohan settled his account at a discount of Rs. 500(k) Charge Depreciation on machine @ 10% for full year. |
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| 516. |
Sanjay and Sunil are partners sharing profit in the ratio of 2:1. Sudhir is admitted as a new partner for 1/4th share in profits. Calculate the new profit sharing ratio. |
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Answer» Explanation: SANJAY's new SHARE= 2/3×1=3/4=6/12 sunil's new share = 1/3×3/4 =3/12 thus new ratio is =6/12:3/12:1/4 =6:3:3 =2:1:1 |
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| 517. |
Look the question number 18 |
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Answer» where is QUESTION no. 18 Explanation: |
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| 518. |
The capital account of Arvazhagan and Srinivasan on 1st Tanuary 2017 showed abalence of 15.000and 10,000 respectively. On 1st July 2017, ÁrivazhagenIntruduced onadditional capital of ₹5000 and on 1st Sept 2017. Srinivasan introduced an additionalcapital of I 10,000Calculate Intereston capital @ 6% pa. for the rear ending 31st Dec 2017. |
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| 519. |
Journal entry for bank charges paid |
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Answer» Answer: journal entry for the above transaction is BANK charges a/c Dr. to cash a/c (being bank charges paid) Explanation: Bank charges are expenses so they are debited and cash a/c is CREDITED because it reduces cash balance or we can say DECREASE in assets are LOSS for the firm and cash is a current asset. i hope it will HELP you.. |
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| 520. |
What is coninuous net settlement |
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Answer» Continuous Net Settlement (CNS) is a settlement process used by the NATIONAL Securities CLEARING CORPORATION (NSCC) for the clearing and settlement of securities transactions. |
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| 521. |
In deffered net settlement,netting is applied to |
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| 522. |
16:272 :: 18:?(A)343(D)433(B)342(C)423 |
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Answer» Answer should be 342 |
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| 523. |
Received rupees 5000 against amount receivable rupees 5070 from samir for full settlement. |
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Answer» Answer: |
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| 524. |
Differentiate between Special Journal and Main Journal(any two) |
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Answer» Answer: In general JOURNAL all the transactions are recorded in the form of two or more line entry (i.e., DEBIT PART in FIRST line and credit part in second line) whereas in special journals all the transactions of sales and purchases are recorded as single line entry with reference of debtors and creditors ETC. |
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| 525. |
sold goods of rupees 30,000 at 10% trade discount and 10% cash discount to ravi and received cheque of 50% amount. |
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Answer» Answer: Bank A/C.........DR 12150 Ravi's A/C........Dr 12150 Discount A/C...........Dr 2700 To Sales A/C 27000 ( Being sold goods to ravi on CREDIT and received 50% amount by cheque ) I hope this will HELP you ! |
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| 526. |
ImpTreking AlcدخملبوعAmt-Amtمملرلودopening stockدهSaleSale retornPurchase- Purchase rotده ملوده17Closing stockبصلة225Gross proutمتر 10374PandtAmtAmt:ملیحهکوملهولهمF%دل 3.2 - مد55Gross proInt. debeو و222)عا۔e exp290.Depointcital |
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Answer» what TYPE of qwestion Explanation: |
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| 527. |
Purchase goods of rupees 40,000 at 10% trade discount and 5% cash discount from rahim and paid half of the amount in cash.please give the answer please. |
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| 528. |
A, B and C are three partners sharing profit in the ratio of there capital. The capital of A is rupees 5,000 and that of B is rupees 2,500. Profit for 2,000 amounted to rupees 3,500 out of which C's share was rupees 1,500. How much is capital? |
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Answer» Answer: PROFIT AND LOSS APPROPRIATION ACCOUNT Particulars Amount Particulars Amount To Interest on capital A= 50000*5%=2500 B=30000*5%=1500 C=20000*5%=1000 5000 By NET profit 45000 To salary to B= 5000 C=5000 10000 To profit T/f to P's current A/c 15000 Q's current A/c 9000 R's current A/c 6000 30000 Total 45000 Total 45000 PARTNERS CAPITAL ACCOUNT Particulars A B C Particulars A B C To balance c/d 50000 30000 20000 By balance b/d 50000 30000 20000 Total 50000 30000 20000 Total 50000 30000 20000 PARTNERS CURRENT ACCOUNT Particulars A B C Particulars A B C To drawings 10000 7500 6000 By bal b/d 4500 1500 1000 By Interest on capital 2500 1500 1000 By bal c/d 12000 9500 7000 By Salaries 5000 5000 P/L Appropriation A/c 15000 9000 6000 Total 22000 17000 13000 I HOPE it helps you... follow me....give ❤️ heart |
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| 529. |
20. Brahm Ltd. issued 10,000 Debentures of ? 100 each at par on the condition that the same will beredeemed at a premium of 10% after two years. Pass necessary Journal entries for the issue andredemption of these debentures after the expiry of two years. |
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| 530. |
Write about double-entry book-keeping system?please told fast |
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Answer» Answer: Double-entry bookkeeping, in accounting, is a system of book KEEPING where every entry to an account requires a corresponding and opposite entry to a different account. The double-entry has TWO equal and corresponding SIDES known as debit and CREDIT |
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| 531. |
On the basis of Income and Expenditure Account .............. is prepared. |
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Answer» Explanation: On the BASIS of Income and EXPENDITURE ACCOUNT .............. is PREPARED. |
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| 532. |
Depreciation represent a...............in the value of fixed assed |
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Answer» Explanation: PLEASE mark me as BRAINLIEST |
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| 533. |
How will you treat overtime wages in cost accounts |
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Answer» Explanation: ) OVERTIME HOURS at the normal rate are treated as direct labour cost and charged to production on the same basis as time worked during normal hours but the premium paid during the overtime period is not a direct charge against production but is RECOVERED as production OVERHEAD through overhead RECOVERY rate. |
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| 534. |
On the basis of income and expenditure account is prepared |
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Answer» Explanation: Income and Expenditure ACCOUNT is prepared on an accrual basis. All INCOMES and expenses relating to the accounting YEAR, WHETHER they are actually received and paid or not, are taken into CONSIDERATION. Expenditure is recorded on the debit side and income is recorded on the credit side. |
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| 535. |
Liability = assetes - |
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Answer» what does this MEAN I THINK this QUESTION is INCOMPLETE. |
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| 536. |
1. proprietor withdraw for his personal use cash rs. 20,000 and goods worth rs. 10,000. 2. goods rs.50,000 were given as charity (costing rs.60,000). 3. goods rs. 25000 given as free sample distribution. 4. goods rs. 50,000 and cash rs. 30,000 were stolen by employee. 5. goods worth rs. 1,00,000 destroy by fire. insurance co. admitted and paid claim for 60% amount. ADD |
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| 538. |
I make brainest wo do these please answer politely not wrong |
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Answer» PLEASE MARK as BRAINLIST my ANS Explanation: please mark as brainlist my ans please mark as brainlist my ans please mark as brainlist my ans |
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| 539. |
Journal is a book of secondary entry ( true/false) |
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Answer» Answer: JOURNAL is a BOOK of secondary entry - false Explanation: |
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| 540. |
Main source of income in npo is |
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Answer» Here's your answer mate
• INVESTMENT income ETC Hope it helps you ! |
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| 541. |
Ques 27 please explain briefly |
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Answer»
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| 542. |
give examples of two items of expenses which are included in cost accounts as national charges but not in financial accounts |
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Answer» Items shown only in COST Accounts: There are some items which are recorded only in Cost Accounts but are not INCLUDED in financial accounts, national INTEREST on capital, notional rent of premises owned, salary to proprietor etc. Explanation: pls mark brainliest |
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| 543. |
Q. 106 Thirtieth percentile of the more than typedistribution of question 99 is:(a) 31.83(b) 53.50(c) 30.88(d) none of the above |
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Answer» The answer is a option A |
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| 544. |
Why is adjustment of stocks necessary in case of interprocess profit? |
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Answer» Explanation: Meaning of Process COSTING-Inter Process Profits: In process costing, the usual practice is to transfer the output of one process to ANOTHER and finally to finished stock at cost price. In this method of transfer, process accounts will not reveal any profit or loss. But sometimes, the transfer is MADE at transfer price or market price. This method is adopted in ORDER to measure the efficiency or inefficiency of individual’s process. When market price cannot be ascertained, certain percentage of profit margin is added to the cost of processing in order to ARRIVE at the transfer price. Consequently, each process account reveals a profit and this profit is known as ‘inter process profit’. |
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| 545. |
(Revaluation A/c/Capital A/c/Balance Sheet) A, B and C were in partnership, sharingprofits and losses equally. On 1st April 2016, A retired, when the firm's Balance sheet wasPartnership Accounts-V (Retirement and Death of a Partner) •6.95iremeas at under:Liabilities₹los:reet₹AssetsLand and Buildings80,000 Plant and Machinery68,000 Sundry Debtors78,000 Investments69,280 Cash2,95,28042,00069,80089,15080,00014,3302,95,280torsAccording to partnership deed, assets were to be revalued on A's retirement as under : Landand Buildings 58,000; Plant and machinery 65,640; Investments ? 84,000. Besides,Goodwill was then valued at 96,000. A accepted the investments at their revalued figuresin part payment of his dues, B paid * 40,000 as further capital and A was paid off thebalance of his account. Prepare the Revaluation Account, Partners' capital accounts and therevised Balance Sheet of B and C. (No good will account is to be raised.)|Ans. Profit on revaluation * 15,840; Capitals, B 97,280, C 367,280; Balance sheet total32,33,840.ed |
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Answer» Answer: 55 A/C Explanation: SNAT |
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| 546. |
The cost of power and fuel is Rs. 10,000 for 1,000 units capacity. It increases at Rs. 500 for every 10% increase in production. The expense for power is _______ for 1,200 units |
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| 547. |
Do wages paid for abnormal idle time part of cost of production? |
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| 548. |
Are high overhead cost and indication of inefficiency? |
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Answer» High overhead costs do not indicate inefficiency if it is ACCOMPANIED by: ... (v) Improved methods of managerial control like work STUDY, production control, cost and management accountancy TECHNIQUES may reduce the DIRECT cost but will increase the overhead costs. mark me as BRILLIANT and FOLLOW me |
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| 549. |
Paid to Rakesh in full settlement of his account 38600 |
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Answer» Answer: |
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| 550. |
What are the two sides of an account called. |
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Answer» Answer: Double-entry BOOKKEEPING, in accounting, is a system of bookkeeping so named because every entry to an account requires a corresponding and opposite entry to a different account. The double-entry has two EQUAL and corresponding sides KNOWN as debit and credit. The left-hand side is debit and right-hand side is credit. Explanation: hope it helps you pls follow me and mark me as brainliest |
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